Coronavirus Stocks Resume Uptrend As Markets Fall
The coronavirus crisis has escalated in a dramatic fashion over the course of the past few days, and that has had a massive effect on the stock markets. However, not all stocks have cratered. Companies that are involved in developing vaccines for the virus have seen their stocks soar over the past few days.
On Thursday, the four coronavirus stocks that experienced significant gains were BioCryst Pharmaceuticals (NASDAQ: BCRX), Co-Diagnostics (NASDAQ: CODX), GenMark Diagnostics (NASDAQ: GNMK). The stocks enjoyed gains for a variety of reasons. Alpha Pro Tech recorded gains due to the continued high demand for its face masks, and Co-Diagnostics announced yesterday that domestic, as well as international demand, was high for its coronavirus detection kits.
On the other hand, GenMark informed that it had shipped its first consignment of testing kits meant for the coronavirus. BioCryst soared on Thursday after the company beat analysts’ estimates in its fourth-quarter results. Investors could keep an eye on all these stocks over the coming days as the coronavirus crises intensify.
Another stock that investors could keep an eye on is the emerging CBD company CBD Unlimited Inc. (OTC: EDCX), which has grown at a remarkable rate in recent times. On Thursday, the company announced the acquisition of the cannabis brand-building firm Kush Inc.
CBD Unlimited Inc. (OTC: EDCX) stated that due to the rising global demand for CBD products prompted it to acquire the New York-based brand-building firm. The company is involved in developing products made from hemp-based CBD.
Currently, it develops oils, topicals, capsules, and pet products. One of the most popular products that have been manufactured by the company is Phyto-Bytes, a CBD based chew meant for pets.
CBD Unlimited Inc. (OTC: EDCX) devoted more than five years of research in order to develop these products, and now it has also developed a significant retail presence. Investors could keep an eye on CBD Unlimited Inc’s (OTC: EDCX) stock over the coming days.
Source: Stock Market Press
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